The majority of Swiss CFOs are positive about the future
Published: Thursday, Oct 31st 2024, 07:20
Updated At: Friday, Nov 1st 2024, 00:59
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The majority of CFOs at Swiss companies are confident about the future. Almost two thirds have a positive outlook on the Swiss economy, according to a survey by consulting firm Deloitte.
A third of the 112 CFOs surveyed from all major sectors were also neutral with regard to the development of the local economy. "Although the outlook is not euphoric, it is still very positive", according to the report published on Thursday.
However, a look at the most important trading partners reveals major differences. While the majority of CFOs continue to view the US economy positively (53%) regardless of the outcome of the election, they are largely negative about developments in Germany (74%) and China (61%).
"The situation in the US could become more difficult after the election. Nevertheless, the US continues to offer economic strength," comments Alessandro Miolo, Head of Audit & Assurance at Deloitte Switzerland. Established markets such as China and Germany are under pressure.
"Swiss companies need to diversify their portfolio of trading partners and export markets more," says Miolo. He recommends growth markets such as India or the United Arab Emirates as alternative options.
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